The light side of investing and financial markets

FED

To market to market to buy a fat pig. As expected the Fed left rates unchanged with the hint that there is a better than even chance of a hike in December. I clearly remember the first rate hike in December 2015; I was in the Frankfurt airport on my way to visit Ted, … Continue reading Interesting Rates

To market to market to buy a fat pig. Today is Fed day. Later this evening the Fed will probably announce no interest rate increase, but more importantly, they will give details around how they will unwind their $4.5 trillion balance sheet. Rewind a couple of years, the short-term interest rate was already very … Continue reading Quantifying Quantitative Easing

"Whilst the actions of the Fed are beyond the control of the long term equities investor, and anxieties will always remain around "what the Fed does next", in time the present actions fade into market obscurity. Remain invested in quality at all points in the cycle." To market to market to buy a fat … Continue reading Yellen ain’t quitin’

"Of course the Fed meet today again, the middle of March, the "ides" in which Julius Caesar was murdered by his fellow senators. The politics of 2000 years ago was less civil I suppose, although ..... Janet Yellen and her cronies will deliver their prognosis, the market is expecting a rate hike here." To … Continue reading Rategate

"So three dissenting Fed members, rate hikes still on for the year i.e. December or an outside chance of November and the members of the FOMC downgraded the growth outlook. And stocks went up. The S&P 500 closed 1.09 percent better on the day, the Dow Industrials added nine-tenths of a percent and the nerds … Continue reading What’s Janet Smellin?

"To add to her pot are the small matters of the Job Market Is Getting Stronger, Not Weaker and Janet Yellen's Inflation Problem. In the bigger picture this is immaterial to the continued holding and ownership of the businesses that we hold for clients. Sure, it is disruptive for equity markets, it comes with the … Continue reading FED Focus, again

"The reason why there is this fixation with the Fed is that everyone wants to know if someone can point the way. This is not a new phenomenon. The Fed in the modern era has been very influential in the stock market. Sayings on Wall Street like "don't fight the Fed", made famous in part … Continue reading Forget the FED

"And then lastly, I can't get involved in politics in this opinion piece, it is a very emotional topic in particular in South Africa as a result of our past. All I can say is that capital responds to the landscape accordingly and your investment opportunities are not confined to the borders in which you … Continue reading Rating SA

"Before cell phones in Nigeria the fixed line infrastructure was laughable at best. I remember speaking to a Kenyan fellow who worked for a big multinational years ago, he recalls sticking in an application to get a fixed line on the day after he arrived, when his two odd year contract was up, he … Continue reading Some MTN Clarity

"Perhaps the Federal Reserve in their statements should simultaneously give everyone a placebo and tell them everything is going to be OK. Look, I am not going to understand how it is, all I know is that far too much emphasis is placed on the single actions of the smartest academic minds around, at least … Continue reading Fed said make bread

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About Vestact

Vestact was established by Paul Theron in late 2002.
We look after money for private clients, not institutions. We manage your investments in Rands in Johannesburg and in US Dollars in New York. We offer individualised investment accounts, which means that you get your own portfolio, not a slice of some fund.
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